Revolve launches first in-house brand, Rêve Riche
today Nov 20, 2019
Parent company of it-girl favorite brand Revolve, retailer Revolve Group, Inc, has announced the launch of its first portfolio brand, Rêve Riche.
According to the company, the new brand is set to fit in with Forward’s curated mix of high end pieces from popular and emerging designers and brands.
“Our customer has an appetite for discovering emerging designers,” said Raissa Gerona, chief brand officer, explaining that the brand is responding to interest in new luxury designers. “Rêve Riche ... embodies the aspirational, self-assured and strong FWRD woman with expensive taste."
The Rêve Riche brand’s debut collection includes 33 styles with an emphasis on occasion wear, with pieces that capture a “powerful, feminine” aesthetic “with a modern edge,” Revolve said.
It will be launched on Revolve’s luxury sister e-commerce site, Forward by Elyse Walker (FWRD), with prices for the collection ranging from $95 to $1,895. Select pieces will be available via Revolve.com.
Founded by Michael Mente & Mike Karanikolas in 2003, Revolve rocketed to success thanks in part to its early adoption of a strong influencer marketing strategy. After first announcing plans for an IPO in October of 2018, the Los Angeles-based company went public in June of 2019, raising $212 million in an IPO that valued the company at over $1.23 billion.
The company has continued to see positive performance since the IPO, most recently reporting a net income jump of 33.9 percent for its third quarter ended September 30 of this year, bringing the company’s net income to $9.6 million.
For the quarter, the company’s Revolve segment recorded net sales of $135.4 million, climbing 23.7 percent, while Forward reached net sales of $18.8 million, up 14.2 percent year-over-year.
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